TELUS Corporation $TU Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc cut its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 95.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 10,450 shares of the Wireless communications provider’s stock after selling 211,742 shares during the period. K.J. Harrison & Partners Inc’s holdings in TELUS were worth $134,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers increased its position in shares of TELUS by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after purchasing an additional 841 shares during the last quarter. Sanctuary Advisors LLC raised its stake in TELUS by 2.8% during the 4th quarter. Sanctuary Advisors LLC now owns 31,454 shares of the Wireless communications provider’s stock worth $415,000 after acquiring an additional 869 shares in the last quarter. JCIC Asset Management Inc. lifted its position in TELUS by 8.1% in the fourth quarter. JCIC Asset Management Inc. now owns 12,670 shares of the Wireless communications provider’s stock valued at $167,000 after acquiring an additional 950 shares during the last quarter. Equitable Holdings Inc. grew its stake in TELUS by 10.2% during the 3rd quarter. Equitable Holdings Inc. now owns 11,905 shares of the Wireless communications provider’s stock worth $188,000 after buying an additional 1,105 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of TELUS by 37.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 4,585 shares of the Wireless communications provider’s stock worth $72,000 after acquiring an additional 1,241 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TU shares. Wall Street Zen raised TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Bank of America upgraded TELUS from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.50 to $16.00 in a research note on Tuesday, March 10th. Canaccord Genuity Group lowered shares of TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. Weiss Ratings lowered TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Finally, TD Securities upgraded TELUS from a “buy” rating to a “buy” rating in a report on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.33.

TELUS Price Performance

TU stock opened at $10.21 on Monday. The company has a market cap of $16.06 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 10.01 and a beta of 0.63. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average price of $12.01 and a two-hundred day moving average price of $12.81. TELUS Corporation has a 12-month low of $10.07 and a 12-month high of $16.74.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. TELUS’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts predict that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th were given a $0.4184 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 16.4%. The ex-dividend date of this dividend was Wednesday, June 10th. TELUS’s dividend payout ratio is presently 275.00%.

TELUS Company Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.